US Bancorp DE lowered its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 3.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,419,559 shares of the wireless technology company’s stock after selling 49,439 shares during the quarter. US Bancorp DE’s holdings in QUALCOMM were worth $90,880,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Westwood Holdings Group Inc. acquired a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $114,000. Cerebellum GP LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $126,000. Krilogy Financial LLC grew its holdings in shares of QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after purchasing an additional 745 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $141,000. Finally, Jacobi Capital Management LLC grew its holdings in shares of QUALCOMM by 7.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after purchasing an additional 200 shares in the last quarter. 77.14% of the stock is currently owned by hedge funds and other institutional investors.
QUALCOMM, Inc. (QCOM) opened at $63.03 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.41 and a quick ratio of 3.25. QUALCOMM, Inc. has a 52-week low of $48.92 and a 52-week high of $69.28. The stock has a market capitalization of $95,130.00, a price-to-earnings ratio of -25.73, a price-to-earnings-growth ratio of 1.92 and a beta of 1.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be given a $0.57 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.62%. QUALCOMM’s payout ratio is -93.06%.
In other QUALCOMM news, EVP Matthew S. Grob sold 43,000 shares of QUALCOMM stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the transaction, the executive vice president now owns 43,000 shares in the company, valued at approximately $2,810,050. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 919 shares of QUALCOMM stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total value of $59,110.08. Following the completion of the transaction, the executive vice president now owns 11,116 shares of the company’s stock, valued at approximately $714,981.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,812 shares of company stock valued at $2,996,776. Corporate insiders own 0.17% of the company’s stock.
Several brokerages have recently weighed in on QCOM. KeyCorp lifted their price objective on QUALCOMM from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Canaccord Genuity lifted their price objective on QUALCOMM from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Vetr lowered QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 price objective on the stock. in a report on Thursday, February 1st. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, BidaskClub lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $68.25.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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